In most quarters, the Yacktman Focused Fund (Trades, Portfolio)’s activity primarily involves selling all or portions of stakes in its portfolio, but there is usually at least one new buy or addition to existing stakes. Not so in the fourth quarter.
The Fund made 19 reductions and sold two stakes in the fourth quarter. That was the extent of its activity.
The Fund reduced its stake in Procter & Gamble Co. (PG, Financial), a consumer goods company based in Cincinnati, by more than 26%, selling 3,100,000 shares for an average price of $76.49 per share. The transaction had a -4.15% impact on the Fund’s portfolio.
The Fund’s remaining stake of 8,700,000 shares is 0.32% of Procter & Gamble’s outstanding shares and 15.28% of the Fund’s total assets.
Procter & Gamble has a P/E of 29.2, a forward P/E of 17.8, a P/B of 3.3 and a P/S of 3.0. GuruFocus gives Procter & Gamble a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
Warren Buffett (Trades, Portfolio) is Procter & Gamble’s leading shareholder among the gurus with 52,793,078 shares in his portfolio.
Procter & Gamble sold for $74.98 per share Monday.
The Fund trimmed its stake in PepsiCo Inc. (PEP, Financial), a Purchase, New York-based food, snack and beverage company, by nearly 22%. The Fund sold 1,300,000 shares for an average price of $99.87 per share. The deal had a -2.28% impact on the Fund’s portfolio.
The Fund’s remaining stake of 4,700,000 shares is 0.32% of Pepsico’s outstanding shares and 10.39% of the Fund’s total assets.
Pepsico has a P/E of 27.9, a forward P/E of 17.9, a P/B of 10.2 and a P/S of 2.2. GuruFocus gives Pepsico a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Donald Yacktman (Trades, Portfolio) is Pepsico’s leading shareholder among the gurus with 17,796,881 shares in his portfolio.
Pepsico sold for $93.93 per share Monday.
The Fund reduced its stake in Sysco Corp. (SYY, Financial), a Houston-based marketer and distributor of food products to restaurants, health care and educational facilities, hotels and other businesses, by nearly 29% with the sale of 2,600,000 shares for an average price of $41.04 per share. The transaction had a -1.89% impact on the Fund’s portfolio.
The Fund’s remaining stake of 6,400,000 shares is 1.13% of Sysco’s outstanding shares and 5.8% of the Fund’s total assets.
Sysco has a P/E of 36.2, a forward P/E of 19.5, a P/B of 4.5 and a P/S of 0.5. GuruFocus gives Sysco a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
Yacktman is Sysco’s leading shareholder among the gurus with 25,815,789 shares in his portfolio.
Sysco sold for $39.86 per share Monday.
The Fund cut its stake in Microsoft Corp. (MSFT, Financial), a Redmond, Washington-based computer company, by nearly 37% with the sale of 1,900,000 shares for an average price of $52.75 per share. The transaction had a -1.56% impact on the Fund’s portfolio.
The Fund’s remaining stake of 3,300,000 shares is 0.04% of Microsoft’s outstanding shares and 4.05% of the Fund’s total assets.
Microsoft has a P/E of 34.1, a forward P/E of 15.6, a P/B of 5.3 and a P/S of 4.6. GuruFocus gives Microsoft a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
Jeff Ubben (Trades, Portfolio) is Microsoft’s leading shareholder among the gurus with 75,273,091 shares in his portfolio.
Microsoft sold for $50.99 per share Monday.
The Fund reduced its stake in Viacom Inc. (VIAB, Financial), a New York-based mass media company, by more than 84%, selling 1,850,000 shares for an average price of $46.96 per share. The deal had a -1.49% impact on the Fund’s portfolio.
The Fund’s remaining stake in Viacom is 350,000 shares, which is 0.09% of Viacom’s outstanding shares and 0.32% of the Fund’s total assets.
Viacom has a P/E of 8.9, a forward P/E of 6.8, a P/B of 4.8 and a P/S of 1.3. GuruFocus gives Viacom a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10.
Yacktman is Viacom’s leading shareholder among the gurus with 8,307,450 shares in his portfolio.
Viacom sold for $39.85 per share Monday.
The Fund reduced its stake in Coca-Cola Co. (KO, Financial), an Atlanta-based manufacturer, retailer and marketer of nonalcoholic beverage concentrates and syrups, by nearly 22%. The Fund sold 1,700,000 shares for an average price of $42.48 per share. The transaction had a -1.27% impact on the Fund’s portfolio.
The Fund’s remaining stake in Coca-Cola is 6,100,000 shares. That is 0.14% of Coca-Cola’s outstanding shares and 5.8% of the Fund’s total assets.
Coca-Cola has a P/E of 26.5, a forward P/E of 18.5, a P/B of 6.9 and a P/S of 4.1. GuruFocus gives Coca-Cola a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
Buffett is Coca-Cola’s leading shareholder among the gurus with 400 million shares in his portfolio.
Coca-Cola sold for $41.50 per share Monday.
The Fund trimmed its stake in C.H. Robinson Worldwide Inc. (CHRW, Financial), an Eden Prairie, Minnesota-based provider of transportation services and logistics, by more than 56% with the sale of 900,000 shares for an average price of $67.32 per share. The transaction had a -1.14% impact on the Fund’s portfolio.
The Fund’s remaining stake of 700,000 shares is 0.49% of C.H. Robinson’s outstanding shares and 0.96% of the Fund’s total assets.
C.H. Robinson has a P/E of 18.7, a forward P/E of 16.0, a P/B of 8.1 and a P/S of 0.7. GuruFocus gives C.H. Robinson a Financial Strength rating of 9/10 and a Profitability and Growth rating of 8/10.
Yacktman is C.H. Robinson’s leading shareholder among the gurus with 4,982,623 shares in his portfolio.
C.H. Robinson sold for $63.56 per share Monday.
The Fund reduced its stake in Cisco Systems Inc. (CSCO, Financial), a San Jose, California-based technology company, by more than 19%. The Fund sold 2,300,000 shares for an average price of $27.62 per share. The deal had a -1.12% impact on the Fund’s portfolio.
The Fund’s remaining stake in Cisco is 9,700,000 shares, which is 0.19% of Cisco’s outstanding shares and 5.83% of the Fund’s total assets.
Cisco has a P/E of 12.7, a forward P/E of 9.7, a P/B of 2.0 and a P/S of 2.5. GuruFocus gives Cisco a Financial Strength rating of 6/10 and a Profitability and Growth rating of 9/10.
Dodge & Cox is Cisco’s leading shareholder among the gurus with 67,295,678 shares in its portfolio.
Cisco sold for $23.62 per share Monday.
The Fund trimmed its stake in Oracle Corp. (ORCL, Financial), a Redwood City, California-based computer technology company, by more than 16%, selling 1,400,000 shares for an average price of $38.22 per share. The transaction had a -0.94% impact on the Fund’s portfolio.
The Fund’s remaining stake in Oracle is 7,200,000 shares, which is 0.17% of Oracle’s outstanding shares and 5.82% of the Fund’s total assets.
Oracle has a P/E of 16.3, a forward P/E of 11.8, a P/B of 3.1 and a P/S of 4.0. GuruFocus gives Oracle a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
First Eagle Investment (Trades, Portfolio) is Oracle’s leading shareholder among the gurus with 38,101,527 shares in its portfolio.
Oracle sold for $34.12 per share Monday.
The Fund sold one-third of its stake in Exxon Mobil Corporation (XOM, Financial), an Irving, Texas-based oil and gas company. The Fund sold 650,000 shares for an average price of $80.03 per share. The deal had a -0.9% impact on the Fund’s portfolio.
The Fund’s remaining stake of 1,300,000 shares is 0.03% of Exxon’s outstanding shares and 2.24% of the Fund’s total assets.
Exxon has a P/E of 16.4, a forward P/E of 16.2, a P/B of 1.9 and a P/S of 1.1. GuruFocus gives Exxon a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.
T Rowe Price Equity Income Fund (Trades, Portfolio) is Exxon’s leading shareholder among the gurus with 6,775,000 shares in its portfolio.
Exxon sold for $77.58 per share Monday.
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